Abstract:Because of the uncertainty of Runoff

the year generation schedule for hydropower enterprise has some certain risks

which may influence the economic benefits of hydropower. So it has become a major concern for hydropower enterprises to evaluate the risk and the profit of the year generation schedule

and build the compromised generation schedule to maximize the profits and minimize the risks incurred. In order to resolve this problem

a new model based on runoff frequency is developed for building optimal generation schedule with risks taken into account. The probability analysis and group decision making method are used in the process of evaluating the risk and profit of the generation schedule

and the method for solving the problem is presented. At last an example is given to demonstrate the feasibility of the developed model and methods.